A Toronto-based film producer in the midst of enforcement proceedings brought by the Ontario Securities Commission (OSC) is now also facing criminal charges in the U.S., alleging that he defrauded U.S. investors. A federal grand jury in Chicago returned an indictment charging Jason Cloth with seven counts of wire fraud in connection with investments in film and other entertainment projects. Final arguments in that proceeding are scheduled to take place before the Capital Markets Tribunal next week. Those allegations have not been proven either, and Cloth is presumed to be innocent of the criminal charges. Cloth was arrested in Los Angeles, and made his first appearance in U.S. district court.